Sat Apr 05 02:00:00 UTC 2025: ## Gold Prices Plunge After Record Highs
**Hyderabad, India** – Gold prices have experienced a dramatic drop both domestically and internationally, offering a significant relief to buyers. After reaching record highs recently, fueled by economic uncertainty and the perception of gold as a safe haven asset, prices have plummeted.
International spot gold prices touched an all-time high of $3168 per ounce earlier this week but have since fallen by over $100, representing a decline of more than 3%. Currently, the price hovers around $3080 per ounce, with intraday lows dipping to $3060. Experts attribute this sharp fall primarily to profit-booking, with investors cashing in after the recent surge. The strengthening US dollar has also contributed to the price decrease.
In India, the impact is equally significant. In Hyderabad, 22-karat gold prices have fallen by ₹1600 per tola (approximately 84,000 INR), while 24-karat gold has decreased by ₹1740, bringing the price per 10 grams down to approximately ₹91,640. Silver prices have also dropped by ₹4000 in a single day.
The market is now keenly awaiting the release of US non-farm payroll data, which could significantly influence future Federal Reserve interest rate decisions and, consequently, gold prices. A higher-than-expected job growth figure could strengthen the dollar, potentially leading to further gold price decreases. Conversely, lower-than-expected job growth might weaken the dollar and push prices back up. Further impacting the market will be a speech by Fed Chairman Jerome Powell.
First Piper 